Volume 1 – 19 September 2024
India Forward
Emerging Perspectives
India is a leading global power with a unique voice that is increasingly representative of emerging markets. Strategically located, with promising growth and a young workforce, India is increasingly influencing the world.
S&P Global and CRISIL’s journey with Look Forward: India’s Moment in 2023 demonstrated the value we can deliver to our customers by taking an in-depth look at the country from interconnecting vantage points. This inaugural edition of India Forward, prepared by S&P Global’s cross-divisional India Research Chapter initiative, provides distinct thought leadership on India by combining local expertise, global perspectives and our full suite of capabilities.
Inside India Forward: Emerging Perspectives, our researchers and analysts have provided essential intelligence on the many factors shaping India’s future. India’s medium-term prospects are healthy and poised to deliver sustained growth, buoyed by likely structural reforms, opportunities within the AI sector and more efficient agriculture. India’s inclusion in global bond indexes opens new opportunities, portending sizable foreign inflows into government debt. At a time of increasing geopolitical competition, how India takes advantage of its long coastline for trade opportunities will be crucial. The same goes for the country’s multidimensional energy future, with growing energy demand and the need for sustainable technology investments.
Our annual research in India Forward will highlight the risks and opportunities that India encounters on its path to becoming the world’s third-largest economy by 2030.
India is building on its moment, and S&P Global and CRISIL are committed to powering the Indian market with integrated ratings, analytics, data and insights. The country is special to us as it is the location of our largest global workforce and India Forward is a testament to our commitment.
S&P Global
Douglas L. Peterson
S&P Global
Senior Advisor, Former President & Chief Executive Officer, S&P Global
Mr. Peterson serves as a senior advisor to S&P Global. He was President and Chief Executive Officer from 2013 until November 1, 2024, and served on the board from July 2013 to May 2025. In May 2025, Mr. Peterson joined the Morgan Stanley Board of Directors.
Through a mix of organic investments and strategic transactions, including the successful integration of IHS Markit in 2022, Mr. Peterson transformed S&P Global to realize its vision of “Powering Global Markets” with data, analytics, and benchmarks. His dedication to the company's people, customers, and partners, combined with his emphasis on international expansion, innovative technology, early adoption of AI, and leading sustainability services, forms the foundation of the company's strategy today. Under his leadership, S&P Global returned over $30 billion to shareholders, and the company’s market capitalization increased from $16 billion to over $150 billion.
Mr. Peterson is a leading voice on sustainability and energy transition. He serves on the Board of the UN Global Compact, is leading a World Bank working group to develop an emerging markets fixed income asset class of large infrastructure projects, and in 2021 he led a workstream of the G7’s Impact Taskforce to mobilize private capital through consistent global standards to measure, value, and account for sustainability.
Before joining S&P Global, Mr. Peterson was the Chief Operating Officer of Citibank. Over his 26 years at Citigroup, he served as CEO of Citigroup Japan, Citigroup’s Chief Auditor, and in leadership roles in Latin America, always delivering growth through exceptional performance.
Mr. Peterson serves on the Boards of the Japan Society, the National Bureau of Economic Research and Claremont McKenna College. He is a member of the Council on Foreign Relations.
Born and raised in New Mexico, Mr. Peterson received an MBA from the Wharton School at the University of Pennsylvania and an undergraduate degree from Claremont McKenna College.
About this episode
As the world's most populous country, India faces unique opportunities and challenges in maximizing its labor potential for economic growth. This episode covers key topics such as employment prospects post-elections, government initiatives for upskilling, and the critical role of female labor participation. Tune in for insightful analysis on how India can harness its workforce to become a global manufacturing hub while navigating the complexities of a dynamic labor market.
About the S&P Global India Research Chapter
The India Research Chapter brings together experts from across divisions and functions of S&P Global and CRISIL (an S&P Global company) to focus on the opportunities, risks and potential that will shape India’s future. It is a strategic initiative aimed at providing in-depth, timely insights and thought leadership into the complexities and dynamism of the Indian economy and its diverse sectors and industries. The 2024 key research themes are:
India's Economic Landscape
Balancing Energy Security & Energy Transition
Future of Capital Markets
Digital Disruption and Artificial Intelligence
Geopolitical Scenarios
Trade, Resources & Supply Chains
Agriculture
Sustainability
Sponsors and Leads of the IRC
S&P Global Market Intelligence
Abhishek Tomar
S&P Global Market Intelligence
Head of India Leadership Council (S&P Global and CRISIL) and Chief Data Officer
Abhishek Tomar is the Chief Data Officer at S&P Global Market Intelligence and a member of the division’s operating committee.
In his current role, Abhishek is responsible for leading the Data Strategy, Data Management, Data Transformation and Data Quality operations while building on the strategy roadmap that enables the division to deliver on its priorities for Powering Global Markets.
Abhishek co-chairs the S&P Global Enterprise Data Network that aims to maximize the value of S&P Global data and create a competitive advantage, by creating a network, enabling synergy discovery, and scaling shared capabilities across enterprise.
Abhishek also has an expanded remit to execute and align site operations strategy across offices in Argentina, India, Pakistan and the Philippines to ensure the continued strength of operations. Currently leading the India Leadership Council in the Regional Coordinator capacity, Abhishek oversees the Steering Committee comprised of leaders from across S&P Global and CRISIL to discover new pathways to connect country/regional strategies and business development opportunities while also focusing on how we support our people, our customers and the markets by building a future together.
He joined the company in 2002 and brings to this position extensive experience across data analytics, data and operations management, business strategy, and organizational leadership skills.
Abhishek has more than 20 years of experience in the financial services sector and is an active member of the National Executive Board of American Chamber of Commerce (AMCHAM) in India. Abhishek holds a bachelor’s degree in Commerce from Delhi University and a master’s degree in Business Administration in Systems & Marketing from NIILM - Centre for Management Studies.
S&P Global
Amish Mehta
S&P Global
Managing Director and CEO, CRISIL
Amish Mehta is the Managing Director and CEO of CRISIL.
In his current profile, Amish leads CRISIL's Indian and global businesses, steering its efforts to deliver high-quality analytics, opinions and solutions to corporations, investors, financial institutions, policy makers and governments.
Amish joined CRISIL in October 2014 as President and Chief Financial Officer. In July 2017, he was appointed Chief Operating Officer, responsible for Global Analytical Center, India Research and SME, Global Innovation and Excellence (GIX) Hub and Corporate Strategy. As COO, Amish has led CRISIL’s acquisitions and change agenda, and creating a growth path for the businesses managed.
Prior to joining CRISIL, Amish was Chief Financial Officer for Indus Towers. He has rich experience of over two decades in telecommunications, oil and gas, FMCG and business advisory services, and has held leadership roles in diverse organisations, including BP/Castrol India, EY, and ExxonMobil India.
He is a Chartered Accountant and holds a bachelor’s degree in Commerce.
S&P Global Commodity Insights
Atul Arya, Ph.D.
Senior Vice President and Chief Energy Strategist
His areas of expertise include business strategy, commercial analysis, oil markets, energy technologies, climate change and renewables. He has previously led Energy Insight, Research and Analysis and Energy Research teams at S&P Global (Now a part of S&P Global). Dr. Atul previously worked for BP for over 20 years in a number of operational, business, technical and strategic positions around the world. His career includes international leadership experience in a diverse array of energy fields spanning strategy development, business planning, field operations and technology commercialization. His experience includes leadership in solar energy development as well as oil and gas. Dr. Atul has previously served on boards of several companies and institutions and is member of the World Economic Forum's Global Future Council on Advanced Energy Technologies and is 25+ year member of the Society of Petroleum Engineers. He is a sought-after speaker and moderator at public conferences, company boards and industry events and a member of the CERAWeek leadership team.
He holds B.S., M.S. and Ph. D. degrees in engineering.
S&P Global
Farhan Husain
Global Head of Communications
Farhan Husain is the Global Head of Communications for S&P Global, serves as a member of the Operating Committee, and oversees strategic communications for S&P Global’s South Asia operations across India and Pakistan.
Most recently, Farhan was also Global Head of ESG Communications for S&P Global where he established a global team and communication strategy for S&P Global’s first ESG commercial business, S&P Global Sustainable1. Farhan is an established global communications leader who has extensive experience partnering with C-Suite executives to provide strategic counsel and execution across public relations, executive communications, change management, M&A and strategy communication, internal communication strategy, and investor relations.
Farhan joined S&P Global in 2016 where he managed the external communications strategy for the US, Canada and Latin America before being promoted to Global Head of External Communications for Market Intelligence in 2017. Farhan also held communications positions in S&P Global Ratings overseeing the successful communications strategy for the Ratings’ ESG Evaluation launch, and spearheaded the internal and external visibility strategy for S&P’s Chief Economists. Prior to joining S&P Global, Farhan held several communications and marketing roles in the financial services industry across companies including Ernst and Young (EY), International Securities Exchange/NASDAQ and the New York Stock Exchange.
Farhan was the founder of Baruch College Campus High School’s Alumni Association and currently sits on the Board of Reach out and Read - Greater New York chapter. He has a degree in Broadcast Journalism from Hofstra University.
S&P Global
Nilam Patel
Managing Director, India Operations
S&P Global Market Intelligence
Deepa Kumar
Head of Asia-Pacific Country Risk and Co-Lead, India Research Chapter
Deepa leads analysis on India and routinely spearheads and contributes to corporate-wide initiatives focused on India. Deepa has a background in Indian parliamentary research and was previously an entrepreneur whose organization in New Delhi focused on increasing citizen engagement with political representatives.
S&P Global Commodity Insights
Gauri Jauhar
Executive Director, Global Energy Transitions & Clean Tech Consulting
Executive Director, in Energy Transition and Clean Tech Global Consulting team, S&P Global Commodity Insights
Gauri is Executive Director, in Energy Transition and Clean Tech Global Consulting team, and a Certified Independent Director by the Institute of Directors (IOD). She has 23 years of experience in the energy, applied economics, finance fields, with wide regional experience in the United States, Kuala Lumpur, Singapore, Mumbai, New Delhi. Focus on ESG In the Energy Transitions and the integration of clean fuels in the energy spectrum and multi-sector mitigation strategies.
Her areas of specialization are Integration of New Energy sources to the Energy spectrum for companies and countries, Financial and Operational Competitor Benchmarking, Energy pricing, Market entry strategies and Energy policy development. She represents S&P Global in various industry bodies such as the US India Hydrogen & Gas Task Forces by the US India Strategic Partnership Forum.
Prior to joining S&P Global, Gauri was Commercial Advisor - Gas Policy & Regulatory Affairs at BP in India. She was the gas policy lead for a multi-disciplinary team-leading BP's energy reforms advocacy efforts in India. Prior to joining BP, she was a Senior Consultant at PFC Energy (now part of S&P Global), leading PFC Energy's Integrated Energy business in India and Singapore.
Gauri started her career as a Research Associate at the National Council of Applied Economic Research in New Delhi, analyzing macro-economic policy issues for the Indian economy and her paper with DK Joshi on "India's Macro-Stabilization Policy in 1990s: A Review and Assessment" was published in the book, "The Indian State in Transition."
Contributors
S&P Global Commodity Insights
Pulkit Agarwal
Head of India Content
S&P Global Commodity Insights
Mansi Anand
Senior Research Analyst, Upstream Companies and Transactions
Mansi Anand is a Senior Research Analyst in the Upstream Companies and Transactions at S&P Global Commodity Insights.
Mansi is responsible for assessing the upstream strategies of national oil companies in Southeast Asia and South Asia. She has more than four years of experience in assessing company strategies and developing insights.
She holds a Bachelor of Science in life sciences from the University of Delhi, New Delhi, and an MBA in energy trading from the University of Petroleum and Energy Studies, Dehradun, India.
S&P Global Sustainable1
Zafar Ansari
Senior Manager, ESG Methodology and Scores
S&P Global Commodity Insights
Amrita Arora
Senior Consultant, Energy Transition & Clean Tech Consulting
S&P Global Commodity Insights
Ankita Chauhan
Associate Director, South Asia Power & Renewables
Ankita Chauhan is an associate director at S&P Global Commodity Insights, focuses on renewable energy research for South Asian markets.
Ankita covers research and analysis for the South Asian power and renewable markets, including India, Pakistan, Bangladesh, and Sri Lanka. Ankita has more than 11 years of experience in the renewable energy and climate change domain, with a special focus on policy analysis and market trends for wind, solar, other emerging renewable technologies, and storage technologies. She regularly publishes research reports on these topics, and supports leading companies across the energy value chain via custom research and consulting engagements.
Prior to joining S&P Global, Ankita worked with ICF International, where she provided consulting support to several independent power producers, investors, power utilities, industrial consumers, and government planning bodies on climate change and energy efficiency related topics providing technoeconomic analysis and understanding of enabling regulatory frameworks in India.
Ankita holds a master's degree in business administration with specialization in power sector from the University of Petroleum and Energy Studies, India. She is fluent in Hindi and English.
S&P Global Ratings
Geeta Chugh
Managing Director, Sector Lead Financial Services Ratings
S&P Global Market Intelligence
Pollyanna De Lima
Economics Associate Director, Economic Indices
Pollyanna De Lima is an associate director for Economic Indices at S&P Global Market Intelligence
Pollyanna works as an economist in the PMI team where she oversees the production of the Brazil, Colombia, India and Mexico releases, alongside regional PMI and eurozone productivity reports. She also oversees the production of the Global Business Outlook surveys and contributes to a range of development activities involving PMI datasets and the Halifax House Price Index (HPI).
Pollyanna joined the team in June 2012, after graduating with an Economics and Finance Bachelor of Science from the University of Surrey, UK. She also has a Master of Science in Finance (Economic Policy) with distinction from the University of London, UK. She is fluent in English and Brazilian Portuguese.
S&P Global Mobility
Puneet Gupta
Director, India & ASEAN Automotive Market
Puneet Gupta is an expert for the Indian automotive market at S&P Global Mobility and is responsible for trend analysis, demand modelling, product planning, shared mobility and electrification trends.
Puneet leads the India/ASEAN automotive sales forecasting team. He is an autonomics expert and blends automotive and economics to model demand for the India car market. He is actively doing big picture workshops, trends analysis, white space analysis, and electrification for the India market. Puneet also does impact assessment of government policy, regulation, event shocks (COVID19) and geopolitics on forecast. He is also collaborating with energy verticals to calculate oil demand and has modelled shared mobility needs for Indian market. Puneet is highly networked within Indian auto industry and is fully engaged with global and local automotive car manufacturers, suppliers, energy & financial companies and automotive associations in India.
Puneet has more than two decades of experience in the automotive industry working in diverse areas like strategy, channel sales, R&D, sourcing, manufacturing and logistics. He is widely quoted in the media including Reuters, Economic Times, Live Mint, Hindu, Bloomberg, BBC, Business world and many more. He has written multiple editorial contributions and has spoken in national and global conferences.
Before joining S&P Global Mobility, Puneet has worked with market leaders like Maruti Suzuki, Renault-Nissan and Yamaha in India. He is a mechanical engineer and has done his MBA from MDI, Gurgaon, India.
S&P Global Commodity Insights
Rashika Gupta, Ph.D.
Senior Director, Gas, Power and Climate Solutions
Rashika Gupta, Ph.D., is a Senior Director on the APAC Climate & Sustainability team at S&P Global Commodity Insights, responsible for Power & Renewables research and analysis for the South Asian countries.
Rashika has more than fifteen years of experience in energy markets. Her expertise includes economic and policy assessment, power and fuel market analysis, power market modeling, power trading, energy management, regulatory and commercial analysis, and environmental policy analysis for India and Asia Pacific power and fuel markets. Currently, she leads the S&P Global Commodity Insights South Asia Power & Renewables team, analyzing the power and fuel markets for the South Asian market covering India, Pakistan, Bangladesh, and Sri Lanka.
Prior to joining S&P Global Commodity Insights, Rashika was with Statkraft Markets and with ICF International. She has worked on numerous consulting assignments and commercial projects and with independent power producers, investors, private equity funds, power utilities, energy majors, industrial consumers, and government planning bodies to support their business and commercial strategies.
Rashika holds a bachelor's degree from Kirori Mal College, India; a master's degree from Hansraj College, India; and a doctorate from Delhi University, India.
S&P Global Market Intelligence
Eric Johnson
Senior Editor, Technology, Journal of Commerce
Eric Johnson is the JOC's Senior Editor, Technology, where he leads coverage and analysis of technology’s impact on global logistics and trade.
Johnson regularly reports on how shippers, carriers across all modes, and logistics companies use software, as well as new concepts impacting core freight transportation processes like procurement, execution, visibility, and payment. Johnson is a regular presenter and moderator at industry events and webinars. Prior to joining the JOC in May 2018, Johnson spent 13 years with American Shipper in a variety of roles, most recently covering logistics technology and leading the production of a series of benchmark studies on the logistics industry. Johnson has a bachelor's in journalism from the University of Wisconsin and a master's in international business from the University of Leeds, UK. He has lived and worked in Southern California, the UK, and India, and now resides in the Washington, D.C., area.
S&P Global
Dharmakirti Joshi
Chief Economist, CRISIL
At CRISIL, Joshi's purview includes demand forecasting, assessing macroeconomic scenarios, and analyzing and monitoring the impact of macroeconomic domestic and external shocks on the economy. He has extensive experience in macroeconomic analysis and medium-term assessments of the Indian economy.
He was member of the Working Group of Savings for the 12th Five Year Plan. He is also a member of the industry monitoring group of Reserve Bank of India. He was the Chairman of Economic Affairs Committee of Bombay Chamber of Commerce and is currently member of Economic Policy Group of Confederation of Indian Industry and Indian Merchant Chamber. He regularly writes for leading newspapers and expresses his views on the economy in the electronic media.
Joshi has spent 26 years in economic research and consultancy. He spent 11 years at the National Council of Applied Economic Research (NCAER) before moving on to the Central Electricity Regulatory Commission (CERC), New Delhi, and then CRISIL. At NCAER, Joshi worked on short and medium term macroeconomic forecasting using Computable General Equilibrium and econometric models, macroeconomic reforms and fiscal policy related issues. At CERC, he worked on regulatory, competition and tariff related issues in the Indian power sector.
Joshi holds a bachelors and Masters degree from Honours School in Economics, Punjab University, Chandigarh, India. He has attended program on Macroeconomic Policy and Management at Harvard University and was a visiting scholar to Economic Research Unit of University of Pennsylvania.
S&P Global Commodity Insights
Rahul Kapoor
Vice President, Global Head of Shipping Analytics and Research
Rahul Kapoor is the global head of shipping analytics & research for S&P Global Commodity Insights and is based in Singapore.
Rahul leads an integrated commodity analytics product management, data science and research team. As a business head, he is responsible for driving new product growth for our analytics products Commodities at Sea and Freight Analytics. A subject matter expert in the maritime industry and financial markets, Rahul is a thought leader with proven credentials in market analysis forecasting, shipping economics and commodity market developments. He is a regular speaker at major conferences and client events globally, and is frequently interviewed by both print and visual media. Most recently, he was at Bloomberg Intelligence and earlier headed Drewry Financial Research Services Ltd. He has also worked as senior equities analyst at RS Platou Markets and Nomura.
Rahul holds a Bachelor of Science in Marine Engineering from BITS, Pilani and a Postgraduate in Management from IMI, New Delhi, India.
S&P Global
Shankar Krishnamurthy
Head of EssentialTech COE and Innovation, S&P Global
S&P Global Commodity Insights
Rajeev Lala
Director, Upstream Strategies and Transformation
Rajeev Lala is a Associate Director in Companies and Transactions Research at S&P Global Commodity Insights.
Rajeev Lala, Ph.D., serves as the Director of the Companies and Transactions group at S&P Global Commodity Insights. With 14 years of experience in the energy sector and 17 years dedicated to studying energy geopolitics, Rajeev specializes in the analysis of National Oil Companies (NOCs) and leads a team focused on researching the upstream and low-carbon strategies of major NOCs worldwide.
He earned his doctorate from the School of International Studies at Jawaharlal Nehru University in New Delhi, where he explored the politics of energy in EU-Central Asia relations, culminating in his thesis titled “The Politics of Energy in European Union-Central Asia Relations, 1999-2010.” Additionally, he holds an MPhil in energy pipeline politics and an MA in International Relations.
S&P Global Market Intelligence
Angus Lam
Senior Economist, Banking Risk Service
Angus Lam is an economist working at the Banking Risk Service team of the Economics & Country Risk directorate at S&P Global Market Intelligence.
Based in Hong Kong, Angus focuses on banking sectors of emerging Asian economies. He works as an economist in the Economics & Country Risk directorate, specifically at the Banking Risk Service team. The Banking Risk Service team analyses key events and publishes key data of banking sectors around the world, with a major focus on emerging economies. Angus's research and analysis focuses on banking sectors in emerging Asia, which includes Bangladesh, Cambodia, China, India, Indonesia, Malaysia, Pakistan, Philippines, Sri Lanka, Thailand and Vietnam. Before joining S&P Global, Angus worked for a large European bank in London and a government department in the United Kingdom, where he focused on the labor market and bank lending in the United Kingdom economy.
He holds a Bachelor of Science degree in economics and politics from the United Kingdom and a master's degree in business, also from the United Kingdom.
Selected recent research:
- Chinese D-SIB's additional capital requirements likely to have limited impact on smaller, riskier banks
- Bangladesh Bank calls on state-owned banks to boost capital buffers, higher credit disbursement likely to affect asset quality
- Malaysia and Thailand outline rules for mutual bank entries; lower barriers likely to boost speed of expansion
- Sri Lanka's loan moratorium extension to end-2021 to continue to hide bad loans
- Thailand's central bank eases loan classification and provisioning guidelines until 2023, reducing banks' capital needs temporarily
S&P Global Market Intelligence
Brian Lawson
Senior Consultant
S&P Global Market Intelligence
Hanna Luchnikava-Schorsch
Head of Asia-Pacific Economics
Hanna leads a team of economists that delivers macroeconomic forecasts and risk assessment for the region’s advanced, emerging and frontier economies, as well as thought leadership and analysis on a range of topics including Asia-Pacific economic integration, supply chain diversification and reshoring, demographics and labor markets, food security, and economic impact of climate change.
A lead India economist herself, she has over 15 years of professional experience in forecasting India’s macroeconomic and financial conditions and advising clients on its dynamic business and investment environment.
Hanna joined S&P Global Market Intelligence with the acquisition of IHS Markit, prior to which she held roles with the World Bank and McKinsey. Hanna earned a master’s degree in international economics and finance from the International Business School at Brandeis University, United States, and a bachelor’s degree in international relations from the Belarusian State University. She is fluent in English, Russian, German, and Spanish.
S&P Global Sustainable1
Matt Macfarland
S&P Global Sustainable1
Senior Editor
Matt MacFarland is the industry editor for nonbank financial services news at S&P Global Market Intelligence. His coverage includes investment banking, asset management, financial technology and capital markets. A particular focus is equity market structure, which he covered as a reporter for SNL Financial.
Matt holds a master’s degree in creative writing from the University of Virginia and a bachelor’s degree in English from Hampden-Sydney College.
S&P Global Market Intelligence
Bency Mathew
India Correspondent, Journal of Commerce
S&P Global Commodity Insights
Swati Mathur
Associate Director, Agribusiness Consulting
S&P Global Commodity Insights
Sambit Mohanty
S&P Global Platts
Asia Energy Editor
Sambit Mohanty is an Editorial Lead for Petroleum News at S&P Global Commodity Insights, responsible for leading news and analysis out of Asia-Pacific for Platts Oilgram News. He also writes on other regional commodity markets. He is the lead author of the recent S&P Global's special report on Make in India and its impact on energy and commodities. Sambit is based in Singapore and has two decades of experience as a senior editor analyzing commodities and energy trends in the region. He holds a Masters’ Degree in Applied Economics.
S&P Global Commodity Insights
Rajiv Narang
Executive Director and Global Head of Process Economics Program
Rajiv Narang is Director of Process Economics Program, based out of New Delhi at S&P Global Commodity Insights.
Rajiv is based out of New Delhi, India presently working as Director of Process Economics Program, at S&P Global Commodity Insights. He has worked over the last 30 years with various Energy Companies and Consultancies, like Bechtel, Fluor, Petrofac, ONGC and GAIL, during which he has travelled and worked in many countries. He has designed has operated Gas Processing complexes, Refinery Units, Coal Gasification, Sulfur Recovery, Merox, Delayed Coker, and Offshore oil, gas and water injection facilities. He is presently leading the India Process Economics Program, and contributes to Techno-Economic studies on Chemicals, Refinery Technologies, and Natural Gas Processing. Rajiv has authored reports on Coal Gasification, IMO 2020 options for stake holders, Refinery Integration, Sulfur removal, and Sulfuric Acid and Lubricating Base Oils. He is presently working on Membrane Technologies to clean up high H2S natural gas.
He has served as Secretary and Vice Chairman of the Indian Institute of Chemical Engineers, Northern India Chapter. He is a senior member of American Institute of Chemical Engineers (AIChE), Chartered Engineer in UK, and a Fellow of the Institute of Chemical Engineers, (IChemE) UK.
Rajiv completed his undergraduate studies in Chemical Engineering from Indian Institute of Technology, Delhi, and holds a MBA degree. His technical papers have been published in many conferences and international journals.
S&P Global Commodity Insights
Ravi Narayanaswamy
Vice President, Fuels, Chemicals and Resource Solutions
S&P Global Commodity Insights
Vedant Patil
Principal Consultant, Energy Transitions & Cleantech Consulting
S&P Global Ratings
Jose Perez-Gorozpe
S&P Global Ratings
Head of Credit Research Emerging Markets
Jose Perez-Gorozpe is the Head Credit Research for Emerging Markets and chairs the credit conditions committee for Emerging Markets. Credit Conditions Committees meet quarterly to review macroeconomic conditions in each of four regions (Asia-Pacific, Emerging Markets, North America, and Europe, the Middle East, and Africa). Discussions center on identifying credit risks and their potential ratings impact in various sectors, as well as borrowing and lending trends for businesses and consumers.
Jose also chairs the Emerging Markets Risk and Research Hub. This Hub coordinates our economists, research analysts and senior practice representatives to determine our house view on key macro and credit trends.
Jose spent ten years as part of the Financial Institutions analytical team in Mexico’s City office. He was responsible for the analysis of several financial systems in Latin American countries including Brazil, Chile Colombia, Peru and Mexico. He also performed credit rating analysis for several insurance companies and the largest banks in the region. Previously, he was responsible for the analysis of various local and regional governments, other public entities and water utilities for the International Public Finance Ratings team.
Jose joined S&P Global Ratings in November 2003 and holds a BA in Economics from Instituto Tecnológico Autónomo de México (ITAM) and a Master’s Degree in Banks and Financial Markets from Universidad Anahuac.
S&P Global Ratings
Vishrut Rana
S&P Global Ratings
Senior Economist, Asia-Pacific
Vishrut drives the team’s macro view on the region’s emerging markets. In addition, he generates economic forecasts for the region, contributes to the team’s research agenda, and serves as a spokesperson for the Asia-Pacific macro narrative. Prior to S&P Global, Vishrut was with the Centre for Research on the Economics of Ageing in Singapore as a Research Associate. Vishrut completed his Ph.D. in Economics from Singapore Management University, where his research focused on business cycles, credit and its interaction with the economy, and financial intermediation.
S&P Global Commodity Insights
Abhishek Ranjan
South Asia Lead, Fuels and Refining
S&P Global Market Intelligence
Pushan Sharma
Director, Research, CRISIL Market Intelligence & Analytics
S&P Global Mobility
Vivek Sharma
Senior Research Analyst, Powertrain Forecast, India
S&P Global
Sugandha Srikanteswaran
Managing Director, Digital Solutions India
S&P Global Commodity Insights
Gaurav Srivastava
Executive Director, Oil Markets and Downstream Consulting, Middle East and South Asia
Gaurav Srivastava is Executive Director in OMD Consulting team covering Middle East and South Asia regions at S&P Global Commodity Insights.
Gaurav has more than 14 years of industry experience and leads the S&P Global Commodity Insights's OMD consulting team in Gurgaon, India. He advises public and private downstream clients across Middle East and South Asia regions and manages varied consulting assignments spanning strategy, market studies, due diligence, market assessment and sizing, feasibility studies, investment evaluation, opportunity identification and screening.
Prior to joining S&P Global, Gaurav was employed by IndianOil Corporation Limited for nearly 7 years in a number of strategic, commercial and technical positions, and Kline & Company for a year where he worked on varied consulting assignments spread across industries.
He did his MBA from the Indian Institute of Management (IIM), Lucknow and B Tech in Chemical Engineering from the Indian Institute of Technology (IIT), Kanpur. He is recipient of Chairman's gold medal at IIM Lucknow.
S&P Global Sustainable1
Radhika Tomar
Director, Corporate Engagement for Asia Pacific, Middle East and Africa
S&P Global
Aria Wahal
Research Intern, India Research Chapter
Key Support
Lead Editor
Ellen White, Editor
Copy Editors
Benjamin Yang, Editor
William Lockwood, Senior Editorial Manager
Graphics Editor
Matthew Schick, Senior Editor, Visuals
Project Managers
Pooja Nair, Director
Shipra Singh, Senior Project Manager
Aria Wahal, Intern
Production Manager
Brianne Paschen, Senior Design Manager
Website Development
Kurt Burger, Marketing Specialist
Social Outreach
Camille McManus, Marketing Specialist
Communications Lead
Saumya Bhushan, Director of Corporate Communications, South Asia